TALLINNA SADAM                 STOCK EXCHANGE RELEASE                 20.07.2005



NOTICE OF RESIGNATION



On 20 July 2005, Gerd Krieger, a member of the Management Board, responsible for

development division, submitted his resignation. The Supervisory Board will

discuss the issue on its meeting on Tuesday, 2 August 2005.





Tiina Liitmäe

Head of Marketing Department

+372 6318066